Review of Applied Management and Social Sciences (RAMSS) (E-Journal)
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Exploring the Contribution of the Service Sector to Economic Growth and Job Creation: Empirical Evidence from South Asia
Get PDFThe service industry is the main driving force behind the global economy, responsible for creating the most employment opportunities and stimulating the most economic growth in both developed and developing countries. However, there is concern among policymakers regarding whether an increasing emphasis on the service industry will actually lead to job creation or not. Therefore, the purpose of this study is to investigate the impact of service sector growth on economic expansion and job creation in six developing nations of South Asia: Bangladesh, Pakistan, Iran, India, Nepal, and Sri Lanka. The study collected data over a period of 30 years, from 1990 to 2020, and utilized two models, with the generalized method of moments (GMM) being employed to estimate the findings. The results demonstrate a significant and favorable relationship between the expansion of the service industry and economic growth, as well as employment levels. To enhance the growth rate of developing economies and increase exports of service-related products, it is recommended to foster a favorable environment in the service sector. This can include creating conditions that are supportive of business, enabling greater ease of operation, and providing a stable political climate
Analysis of the effect of Financial Distress on Tax avoidance during the COVID-19 Financial Crisis: Evidence from Pakistan
Get PDFFor the purposes to finance their business operations, firms have incentives to engage in corporate tax avoidance activities when managerial incentives increase as compared to managerial costs. These activities are significantly high when firms are inthe financial distress zone. The Covid-19 financial crisis (CFC) provides significant findings on whether corporate tax avoidance hasa significant difference from the pre-Covid-19 tothe post-Covid-19 financial crisis, whether a firm’s management is obligated to engage aggressively with corporate tax avoidance. This research aims to investigate the impact of financial distress on corporate tax avoidance during the Covid-19 financial crisis. Based on a sample of 175 firms listed on PSX covering the period of 2010-2021. The study applies GMM dynamic approach with (static) fixed and random effect models to check the robustness of results. The finding of the GMM approach demonstrates that financial distress has a statistically significant and positive impact on corporate tax avoidance. Consistent with the cost-benefits analysis and risk-shifting behavior theories, firms engage more in tax avoidance, especially during financial distress. Moreover, CFC magnified the relationship between these variables, and firms investigated in the study face development suffer mostly in this globally and economically distressing period
Family, Autonomy, Health, Financial Satisfaction, and Luck as key predictors of Happiness: Evidence from secondary analysis of World Values Survey Pakistan 2018
Get PDFThe study investigated the factors that are related to happiness by performing secondary data analysis of World Values Survey Pakistan 2018 (n = 1937). Specifically, the role of family, health, autonomy, financial satisfaction, and luck in determining happiness was investigated along with other socio-demographic variables. Data was analyzed using SPSS (v. 25) and ordinal logistic regression was conducted to assess the relationship of key predictors with happiness. It was found, in the multivariate model that the odds of happiness were lower in respondents belonging to rural areas (p < .001), who were illiterate (p < .01), who did not consider family to be very important (p < .05), who reported very poor health (p < .001), and who believed in luck (p < .001). The odds of happiness increased with higher autonomy (p < .01) and higher financial satisfaction (p < .001)
Financial Benefits of Peace Discourse between two Belligerent Neighbors
Get PDFPolitical risk is an important factor for an international investor in order to diversify his portfolio. Regional political instability causes hindrance in economic development and therefore influences capital markets in the region. The objective of this paper is to investigate the impact of bilateral peace dialogue between India and Pakistan on stock markets of Pakistan. The study uses a quantitative research design with secondary data as source. The sample includes KSE all shares, and a cross-section of 575 stocks in PSX. The study uses event study methodology of Brown & Warner (1985). The methods of estimation include summery statistics, average abnormal returns summery, and event analysis. The dependent variable is average abnormal returns, and cumulative average abnormal returns, while independent variables are the news of peace dialogues. The sources of data collection includes “Data stream”, and Aljazeera website. Results suggest that abnormal returns of KSE All Share Index are not significant. Only a few peace dialogues occurring on October 19, 2007, April 24, 2008 and July 16, 2009 show significant CARs for eleven days event window. These results imply that peace process should be carefully drafted so that market can feel its presence. Additionally, central issues on Kashmir, Kargil, Siachen and so on should be resolved in order to bring peace in the region. This study contributes to emerging capital markets literature as it guides an international investor in gauging the stock market’s reaction in the wake of political events like peace processes. The study generalizes its findings on PSX only. The future research may consider the impact of peace discourse on stock market of other countries in comparative format
Transformational Leadership, Knowledge Sharing and Innovative Behavior of Employees in Information Technology Industry of Pakistan
Get PDFThe ability to turn a vision into reality is what leadership is all about. In the transformational leadership framework, this research looks at innovative behavior as a decisive variable in Pakistan's IT industry. People are influenced by transformational leadership because it creates a vision, builds morale, and motivates them. Employee turnover is reduced when leaders use the transformational leadership style; such leaders inspire people, listen to them, and find solutions to their problems; as a result, employee satisfaction is increased. The study also examines knowledge sharing as a mediator and the two moderators' organizational identification and learning goal orientation. Both moderators can enhance the effectiveness of knowledge-sharing on innovative behavior. The convenience sample technique was used in this cross-sectional study. Overall, 679 questionnaires were distributed for data collection, with 391 being selected for analysis since these questionnaires contained the most appropriate and complete information necessary for the study's analysis. After gathering data from the 391 respondents, the data was evaluated using the most up-to-date tools for determining model fitness. The findings of this study show that transformational leadership polishes innovative behavior with knowledge sharing serving as a mediator. But when employee organizational identification and learning goal orientation are strong, the results show that knowledge sharing bridges the gap between transformational leadership and employee innovative behavior. Theoretical and managerial implications are discussed in this manuscript
Effect of Smuggling on Economic Status of Households of District Loralai: An Analysis
Get PDFThis study analyzes the effect of smuggling on the economic status of households in District Loralai. The data of 400 households were collected by using a simple random sampling technique from the Loralai district. The ordinary least square method was applied to estimate the results. Both rural and urban households were sampled. The economic status of the households was measured with household monthly income, household monthly expenditures, and household value of physical assets. The core independent variable used in the study was the participation of respondents in smuggling and price differences. Results show that smuggling boosts the economic status of households but harms the country's economic growth
Asymmetric Impact of Renewable Energy Consumption on Environment in Pakistan
Get PDFAlthough the current literature has widely explored the paraphernalia of renewable energy on environment, the literature overlooks the asymmetric association of renewable energy with the environment. To contribute this gap in the existing body of related literature, this study carry out the nonlinear impact of renewable energy consumption along with control variables like non-renewable energy, urbanization, and gross domestic product on CO2 emission in Pakistan. The study employs the nonlinear autoregressive distributed lag model (NARDL) from 1980 to 2018. The results reveal that renewable energy consumption mitigates the environmental degradation asymmetrically. While other variables non-renewable energy consumption, gross domestic product and urbanization positively associated with Co2 emissions. The study gives some guidance for policymakers of Pakistan that should formulate policies and regulations to promote renewable energy usage which mitigates environmental degradation
How Social Media Moderates the Impact of Service Quality and Customer Satisfaction on Consumer Loyalty
Get PDFThe banking sector continues to face intense competitive pressures in a global economy where customer satisfaction, customer loyalty, and service quality continue to be critical factors. The aim of this study is to examine the relationship between service quality and customer satisfaction and customer loyalty. Additionally, in order to fill the empirical literature gap, the role of social media has been examined as a moderator. 230 retail banking customers from Pakistan were chosen as a representative sample. Using the structured questionnaire, convenient (non-probability) sampling was employed to gather primary data from the target population. A statistical analysis of the collected data was conducted using Structural Equation Modeling - Partial Least Squares (SEM-PLS). The findings of the study revealed that customer loyalty is significantly influenced by service quality and customer satisfaction. Furthermore, social media also influences the correlations between service quality and customer satisfaction with consumer loyalty. This study will provide retail banking management and strategists with various useful insights about how to manage service quality and customer satisfaction in relation to customer loyalty
Search Online and Purchase Offline: The Role of Instagram Marketing, Consumer Behavior and Webrooming in Building Brand Loyalty
Get PDFIn Pakistan, consumers’ brand loyalty is changing due to emergence of advanced and modern marketing strategies. Therefore, the bricks and clicks businesses are facing allot of challenges because of deviating consumer behaviors in showrooming and webrooming modes. This study aims to explore webrooming as an appropriate strategy for developing brand loyalty for bricks and clicks businesses in Pakistan. The target population of this study was the consumers who purchased different online brands in Pakistan. The data was collected on a five-point Likert scale questionnaire and analyzed through Smart PLS 3.0. This research concludes that bricks and clicks businesses can utilize webrooming to develop brand loyalty by modifying consumer behavior through Instagram marketing. This contribution to the body of literature is remarkable as this area of research was not considered by any earlier studies in consumer behavior domains. The academic and marketing implications of this study are appropriate for developing strategies to modify consumer behavior for brand loyalty with Instagram marketing and webrooming
What Drives the US Stock Market: An Empirical Analysis
Get PDFThis study is conducted to check the asymmetric impact of the pandemic uncertainty (PUI), oil prices and uncertainty index (UI) on the large, mid and small capitalization of US Islamic stock market. The analysis is conducted for the time period of 18 years starting from 2002 to 2020 using auto-regressive distributive lags (ARDL) for exploring the nonlinear or asymmetric influence of variables on. The results suggested that oil prices (OP) did not significantly impact the Large, Mid and Small capitalization of US stock market. Whereas, the pandemic uncertainty have a significantly negative long term relationship with the Large, Mid and Small capitalization of US Islamic stock market. However, uncertainty index have a significantly positive long term relationship with the Large, Mid and Small capitalization of US stock market.